Singapore – Orexigen, a California-based pharmaceutical company focused on development of treatments for obesity announced that it has inked an agreement with Nalpropion Pharmaceuticals to sell virtually all of its assets for $75M in cash.

Nalpropion is a newly formed special purpose entity capitalized by an investor group that includes Pernix Therapeutics. Pernix Therapeutics is a specialty pharmaceutical business with a focus on acquiring, developing and commercializing prescription drugs primarily for the U.S. market. 

The transaction is subject to higher/better offers.